Does Peoples Bank offer Mortgage Refinancing?
Yes! Peoples Bank offers mortgage refinancing for existing homeowners who want to lower their interest rate, reduce their monthly payment, shorten their loan term, or access equity. Refinancing is simply the act of replacing your current home loan with a new mortgage. Refinancing can be a smart financial move when current rates are lower than what you are paying on your existing mortgage.
Peoples Bank's mortgage experts work one-on-one with homeowners to identify whether refinancing makes sense for their specific situation and to guide them through the process from application to closing. We even have some zero closing cost options! Let us discover if you qualify for a lower monthly house payment.
Who is eligible for Mortgage Refinancing?
Refinancing is typically available on mortgages that have been held for four months or more. Applicants with a good credit history and high credit score will benefit from the lowest interest rates. Peoples Bank is proud to offer our customers a quick and simple online Mortgage Refinance application. Visit our online Mortgage Center to get started.
Refinance Existing Balance vs. Cash Out Refinancing
There are two great ways to refinance your mortgage with Peoples Bank. Chances are you’ve paid down the principal on your home loan during your first mortgage. You can now take out a new loan for just the amount you still owe on the house, or you can take out a new mortgage using the full market value of your home. If you decide to finance the full value of your home, you’ll “cash out” the equity you built on your last mortgage. Mortgage Refinancing can help lower your monthly payment, shorten the life of your loan, or put money in your pocket. Contact us to figure out the best refinancing option for your needs!
FAQs
Do you have questions regarding the home loan process? We've compiled some Frequently Asked Questions to help! Click the button below to learn more!
Why choose Peoples Bank?
Peoples Bank is proud to provide our customers with a knowledgeable lending team, who cares about you. As your hometown bank, we provide a variety of loans to help enrich and support our communities. We’re dedicated to our communities and look forward to helping you achieve your dreams. Stop by one of our ten convenient locations or contact us today!
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